The board of Foster’s Group has recommended to its shareholders that an improved takeover offer by SABMiller is accepted.

The board of Foster’s Group has rebuffed SABMiller's proposed takeover bid. 

Foster's has rejected a takeover bid from SABMiller. Foster's Group said that it received an "unsolicited, incomplete, non-binding and conditional proposal" from SABMiller to acquire all of the shares in Foster's via a scheme of arrangement at a price of $4.90 per share in cash.

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Tess Posthumus

Staffing crisis could open opportunities

The pandemic has thrown many challenges at bar owners over the past couple of years and the ones that survived the various lockdowns and restrictions deserve a pat on the back. However, while revenues are returning and bars are beginning to recruit once more, we’ve come up against a whole new set of problems, one of which is a global starring crisis.

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